COFFEE traded at $158.88, 0.11% down since previous close. The downward momentum continued to be seen in Coffee prices since last two sessions however the commodity id likely to open on higher side on Monday amid strong global cues. The traders are digesting the negative effect of hawkish major Central banks outlook over future monetary policy as hinted in last week & hence, may turn out to be positive for prices today. The change in climatic conditions in Brazil turning favorable for Coffee production & supplies dragged down the prices since Brazil is a top producer of beans. As seen in the chart, the Coffee is trading near the previous lows which acts as major support & hence, the cautious trading may be seen for the day.

Natural Gas is trading at $2.730, 0.09% up since previous day close. The Natural Gas resumed its upward momentum on Monday as consumption demand remains stronger from U.S & European regions on changing weather conditions against the steady supplies. Last week, the U.S EIA report showed a rise in Natural Gas storage level by 76B lower than expectation 83B. This indicates lesser supplies against the rising demand. In the month of May, the commodity reversed upside from $2.00 levels after the major Natural Gas producers are expected to lower down drilling & production levels amid low pricing environment in the year 2023. Buying on corrective dip may be recommended for the day in Natural Gas since the commodity seems to be taking a support of MA (10) & MA (20).